CMB1.L vs. IEFV.L

Last updated Jun 26, 2026

CMB1.L (iShares FTSE MIB UCITS ETF (Acc)) and IEFV.L (iShares Edge MSCI Europe Value Factor UCITS ETF) are both Europe Equities funds from iShares - CMB1.L tracks the FTSE Italia AllShare TR EUR while IEFV.L tracks the MSCI Europe Value NR EUR. Both are passively managed. Over the past 10 years, CMB1.L returned 17.45%/yr vs 12.59%/yr for IEFV.L. Their correlation of 0.83 suggests significant overlap in exposure. CMB1.L charges 0.33%/yr vs 0.25%/yr for IEFV.L.

Performance

CMB1.L vs. IEFV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares FTSE MIB UCITS ETF (Acc) (CMB1.L) and iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMB1.L achieves a 16.99% return, which is significantly higher than IEFV.L's 14.64% return. Over the past 10 years, CMB1.L has outperformed IEFV.L with an annualized return of 17.45%, while IEFV.L has yielded a comparatively lower 12.59% annualized return.

CMB1.L

• 1D: 0.03%
• 1M: 3.29%
• YTD: 16.99%
• 6M: 17.62%
• 1Y: 38.46%
• 3Y*: 29.77%
• 5Y*: 20.58%
• 10Y*: 17.45%

IEFV.L

• 1D: 1.36%
• 1M: 1.12%
• YTD: 14.64%
• 6M: 15.38%
• 1Y: 38.77%
• 3Y*: 22.78%
• 5Y*: 15.04%
• 10Y*: 12.59%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CMB1.L vs. IEFV.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMB1.L iShares FTSE MIB UCITS ETF (Acc)	16.99%	43.83%	13.25%	30.68%	-3.56%	18.29%	1.52%	24.83%	-13.79%	22.48%
IEFV.L iShares Edge MSCI Europe Value Factor UCITS ETF	14.64%	42.20%	5.40%	11.41%	1.47%	18.58%	-3.74%	15.71%	-12.67%	14.28%

Correlation

The correlation between CMB1.L and IEFV.L is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015	0.83

The correlation between CMB1.L and IEFV.L has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.

CMB1.L vs. IEFV.L - Sectors Allocation Comparison

Sectors	CMB1.L	IEFV.L
Financial Services	47.2%	23.6%
Utilities	15.3%	4.8%
Industrials	11.1%	18.8%
Consumer Cyclical	9.2%	6.5%
Energy	7.2%	5.2%
Technology	6.0%	9.7%
Communication Services	1.8%	3.6%
Healthcare	1.1%	13.2%
Basic Materials	0.5%	5.5%
Consumer Defensive	0.4%	8.6%
Real Estate	0.3%	0.7%

Return for Risk

CMB1.L vs. IEFV.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMB1.L

CMB1.L Risk / Return Rank: 84
CMB1.L Sharpe Ratio Rank: 88
CMB1.L Sortino Ratio Rank: 87
CMB1.L Omega Ratio Rank: 84
CMB1.L Calmar Ratio Rank: 80
CMB1.L Martin Ratio Rank: 80

IEFV.L

IEFV.L Risk / Return Rank: 87
IEFV.L Sharpe Ratio Rank: 93
IEFV.L Sortino Ratio Rank: 92
IEFV.L Omega Ratio Rank: 92
IEFV.L Calmar Ratio Rank: 79
IEFV.L Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMB1.L vs. IEFV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares FTSE MIB UCITS ETF (Acc) (CMB1.L) and iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CMB1.L	IEFV.L	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.88	-0.34
Sortino ratio: Return per unit of downside risk	3.42	3.91	-0.49
Omega ratio: Gain probability vs. loss probability	1.44	1.53	-0.09
Calmar ratio: Return relative to maximum drawdown	3.71	3.65	+0.06
Martin ratio: Return relative to average drawdown	13.55	13.42	+0.13

CMB1.L vs. IEFV.L - Sharpe Ratio Comparison

The current CMB1.L Sharpe Ratio is 2.54, which is comparable to the IEFV.L Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of CMB1.L and IEFV.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CMB1.L vs. IEFV.L - Drawdown Comparison

The maximum CMB1.L drawdown since its inception was -56.05%, which is greater than IEFV.L's maximum drawdown of -34.64%. Use the drawdown chart below to compare losses from any high point for CMB1.L and IEFV.L.

Drawdown Indicators

	CMB1.L	IEFV.L	Difference
Max Drawdown Largest peak-to-trough decline	-56.05%	-34.64%	-21.41%
Max Drawdown (1Y) Largest decline over 1 year	-10.32%	-10.57%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-15.62%	-15.02%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	-24.19%	-16.16%	-8.03%
Max Drawdown (10Y) Largest decline over 10 years	-36.61%	-34.64%	-1.97%
Current Drawdown Current decline from peak	-2.84%	0.00%	-2.84%
Average Drawdown Average peak-to-trough decline	-15.20%	-6.18%	-9.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	2.88%	-0.05%

Volatility

CMB1.L vs. IEFV.L - Volatility Comparison

iShares FTSE MIB UCITS ETF (Acc) (CMB1.L) and iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) have volatilities of 3.96% and 3.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMB1.L	IEFV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	3.84%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	12.40%	11.09%	+1.31%
Volatility (1Y) Calculated over the trailing 1-year period	15.07%	13.43%	+1.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.01%	17.10%	+0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.12%	17.58%	+2.54%

CMB1.L vs. IEFV.L - Expense Ratio Comparison

CMB1.L has a 0.33% expense ratio, which is higher than IEFV.L's 0.25% expense ratio.

Dividends

CMB1.L vs. IEFV.L - Dividend Comparison

Neither CMB1.L nor IEFV.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CMB1.L and IEFV.L in my portfolio?

CMB1.L and IEFV.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CMB1.L or IEFV.L?

On fees, IEFV.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CMB1.L or IEFV.L?

IEFV.L is cheaper with a 0.25% expense ratio, compared with 0.33% for CMB1.L.

What is the main difference between CMB1.L and IEFV.L?

CMB1.L tracks FTSE Italia AllShare TR EUR, while IEFV.L tracks MSCI Europe Value NR EUR. Their fees differ too: 0.33% for CMB1.L and 0.25% for IEFV.L.